Tesla is facing significant challenges as its sales drop sharply in major markets, including the US and Europe. The company is struggling against fierce competition from Chinese EV manufacturers like BYD, which surpassed Tesla in revenue, reporting over $100 billion. Additionally, BYD is developing competitive driving software that challenges Tesla's Full Self-Driving system. Analysts warn Tesla may become a laggard in the EV market, exacerbated by anti-Musk sentiment and a lack of appealing new products, leading to potential poor quarterly results for the company.
Tesla is feeling the hurt as sales plunge in key markets, with competition from Chinese firms like BYD further jeopardizing its market position.
BYD passed $100 billion in revenue and is developing advanced driving software, challenging Tesla's past technological lead and contributing to its growing woes.
Experts warn Tesla risks becoming a laggard in the EV market as competition from both established and emerging players intensifies, affecting its global sales.
Anti-Musk sentiment and lack of new products are expected to lead to disappointing quarterly results, signaling serious trouble for Tesla.
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